Automatically collect credit information of borrowers fined up to 80 million VND

Lawyer Ho Thu Trang, YouMe Law Company Limited answers:

Article 23, Chapter II, Decree No. 340/2025/ND-CP Regulations on sanctioning administrative violations in the field of money and banking (effective from February 9, 2026), stipulates violations of regulations on collecting and processing credit information as follows:

1. A fine of between 20 million VND and 40 million VND shall be imposed for one of the following violations:

a) Collecting credit information not within the scope of law;

b) Collect credit information of borrowers without the consent of borrowers, except in cases of collecting information at the request of competent state agencies;

c) Using negative information about borrowers to create credit information products that are not in accordance with the law;

d) Obstructing the collection of legal credit information of organizations and individuals.

Point a, Clause 3, Article 5, Chapter I of Decree No. 340/2025/ND-CP stipulates the form of punishment, the amount of the fine, the authority to fine, the measures to remedy consequences and the principles of punishment as follows:

3. Fine level and authority to fine:

a) The fine level specified in Chapter II of this Decree is the fine level applied to individuals; the fine level applied to organizations with the same administrative violation is 02 times the fine level applied to individuals;

Thus, from February 9, 2026, credit information of borrowers will be automatically collected, except for cases collected at the request of competent state agencies, which may be fined up to 80 million VND according to the above regulations.